The words that appear on every listing, spec sheet and survey report, defined plainly. Each entry opens with the definition itself; the paragraph after it is why the term matters when you are buying, owning or chartering.
LOA is the total length of a yacht from the foremost point of the bow to the aftermost point of the stern, including fixed extensions such as a bowsprit or a swim platform.
It is the figure a marina charges by and the one a builder leads with. It is not the same as length at waterline, which is shorter and governs hull speed, and it is not the same as the registered length used on some flag documentation.
See also: Gross tonnage (GT), Beam, Draft
Gross tonnage is a measure of a vessel's total enclosed internal volume, not its weight, calculated by a formula set out in the 1969 International Convention on Tonnage Measurement of Ships.
It matters far more than length in practice, because crewing requirements, safety codes and many regulatory thresholds key on it. The best-known threshold is 500 GT, above which a yacht falls under substantially heavier commercial survey and manning rules - which is why so many yachts are built to just under it.
See also: LOA (length overall), Displacement
Beam is a yacht's width at its widest point.
It sets interior volume more directly than length does, and it decides which berths, lifts and canals a yacht can physically use. A wide-beam yacht gains a great deal of usable space and loses some efficiency and some berthing options.
See also: LOA (length overall), Draft
Draft is the vertical distance from the waterline to the lowest point of the hull, and therefore the minimum depth of water a yacht needs to float.
It decides which harbours, anchorages and cruising grounds are open to a yacht. Some yachts publish two figures, one with retractable appendages raised and one lowered.
See also: Beam, Displacement hull
Displacement is the actual weight of a yacht, expressed as the weight of water her hull displaces.
It is often confused with gross tonnage, which measures volume rather than weight. Half-load and full-load displacement differ, so a single published figure is ambiguous unless the condition is stated.
See also: Gross tonnage (GT)
A displacement hull moves through the water rather than climbing on top of it, and its maximum speed is limited by its waterline length.
It is the most fuel-efficient hull form at low speed and the standard choice for long-range and larger yachts. The trade-off is a hard ceiling on speed that more power cannot overcome.
See also: Planing hull, Semi-displacement hull, Draft
A planing hull generates enough hydrodynamic lift at speed to rise and skim across the water's surface rather than pushing through it.
It delivers high top speed at high fuel cost, and it is sensitive to weight: an overloaded planing yacht may not get onto the plane at all. Common on sportsyachts and smaller motoryachts.
See also: Displacement hull, Semi-displacement hull
A semi-displacement hull is a compromise form that can exceed the speed limit of a displacement hull without fully planing.
It offers a broader usable speed range than either pure form, at some cost in efficiency at both ends. Very common on 25-45 metre motoryachts.
See also: Displacement hull, Planing hull
Diesel-electric propulsion uses diesel generators to produce electricity, which then drives electric motors connected to the propellers, rather than connecting the engines to the shafts mechanically.
It allows generators to run at their most efficient load regardless of speed, reduces vibration and noise, and frees the engine room layout. It is heavier and more complex than a direct mechanical drive.
See also: Range
Range is the distance a yacht can travel without refuelling, and it is only meaningful when quoted with the speed it was calculated at.
The same yacht may have transatlantic range at 10 knots and a fraction of it at 20. A range figure without a speed attached tells a buyer almost nothing.
See also: Displacement hull, Diesel-electric propulsion
A central agency agreement appoints one broker as the sole broker authorised to market a yacht for sale on the owner's behalf.
Other brokers can still introduce buyers, but they do so through the central agent and share the commission. It is the standard arrangement in superyacht brokerage and it is why the same yacht should not appear under competing exclusive listings.
See also: Asking price, Brokerage market
An asking price is the figure at which a yacht is currently advertised, and it is not evidence of what she is worth or of what she will sell for.
Asking prices are frequently reduced during a listing and the achieved price is very often confidential. Any asking price is a point-in-time observation and should always be read with the date attached.
See also: Central agency, Brokerage market
The brokerage market is the market in pre-owned yachts, as distinct from the new-build market for yachts ordered from a yard.
It is measured both by the number of yachts sold and by their total value, and the two can move in opposite directions in the same period, because a single very large sale can dominate a month's value while the volume falls.
See also: Central agency, Asking price
Chartering is renting a yacht, with her crew, for a defined period, typically quoted as a weekly rate excluding running expenses.
The advertised rate is usually a base rate: fuel, food, berthing and often a substantial advance provisioning allowance are charged on top. A yacht offered for charter must normally be commercially registered and meet a heavier code than a private yacht.
See also: Flag state, Gross tonnage (GT)
A refit is a substantial programme of renewal or modification carried out on an existing yacht, ranging from cosmetic updating to replacing engines, extending the hull or rebuilding the interior.
A major refit is measured in months and can approach a significant fraction of the yacht's value. Refit history strongly affects resale, and a yacht's stated year of build tells a buyer nothing about her present condition.
See also: Survey
A yacht's flag state is the country in which she is registered, and whose law and safety regulations she is subject to wherever she is in the world.
The flag decides which codes apply, how the yacht may be used commercially, and which authority inspects her. Cayman Islands, Malta and the Marshall Islands are among the most common flags in the superyacht fleet.
See also: Charter
Classification is certification by an independent society such as Lloyd's Register, DNV or RINA that a yacht has been built and maintained to that society's published technical rules.
Class is separate from flag: flag is the legal jurisdiction, class is the technical standard. Insurers and finance providers generally require class above a certain size, and lapsed class is a material issue on resale.
See also: Flag state, Survey, Refit
A survey is an independent inspection of a yacht's condition, normally commissioned by a buyer before purchase or by an insurer.
A pre-purchase survey typically includes a haul-out to inspect the hull below the waterline and a sea trial. Its findings are the usual basis for renegotiating a price or withdrawing.
See also: Refit